Hmmmm Markets?!

[Hamloc]

Had a little time between checking cows and took a quick look at the markets. Three things caught my eye, corn, soybeans and the Canadian dollar. I realize corn and soybeans aren't huge in Canada but they do tend to lead the grain markets. Any thoughts on supports or any reason for hope? Elevator deliveries seem slow here, sold grain not being called for.

[biglentil]

Had a little time between checking cows and took a quick look at the markets. Three things caught my eye, corn, soybeans and the Canadian dollar. I realize corn and soybeans aren't huge in Canada but they do tend to lead the grain markets. Any thoughts on supports or any reason for hope? Elevator deliveries seem slow here, sold grain not being called for.

Give it a week grain prices are about to rally in a big big way.

[farming101]

Give it a week grain prices are about to rally in a big big way.

That would be timely. Corn and Beans threatening to go through some major support.
Wheat wavering with Minneapolis the closest to setting a buy signal.
Veg oils near the bottom of the channel.
Canola last two buy signals were duds.

Could have all been worse considering what is happening in other markets. As was mentioned elsewhere the weaker dollar has softened the blow for Canadian priced grains

[Austrian Economics]

The collapsing Canadian dollar is not all win-win as much as we would like it to be. Suppose you are a medium to large farm which leases equipment every year, most of which is built in the United States. Your lease payments will rise inversely to the fall in the Canadian dollar. If you have signed longer term agreements, they may be difficult to get out of. If you get out of the lease, you are now stuck with a huge purchase of equipment that your business plan did not anticipate.

[farming101]

Corn new 3 1/2 year low today.
North Dakota cash bids 2.53

[AlbertaFarmer5]

I keep being reminded of the saying, A market that doesn't go down with bad news...(I forget the ending, but implies that it will go up, and the converse also being true) Couldn't throw much more bad news at a market right now, yet in CAD terms, our grain prices are holding nearly steady, often running in complete opposition to logic, historical correlations, or the broader market sentiment.

Makes me cautiously optimistic.

[TechAnalyst]

Just thinking out loud in the storm,

What happens when the markets realize what keeps us awake at night - that this could seriously limit our ability to grow a normal crop?

Given the lack of fertilizer applied last fall throughout North America and the just in time (or later) systems we've been forced to deal with, it could seriously limit production.

Suppose that's already sneaking into our prices?

By the way, most of corns' issues the last two days are thanks to Goldman Sachs. They advised shorting corn as a hedge against this getting out of control. Suggesting it was the most likely damaged due to feed and ethanol use reductions.

[furrowtickler]

Just thinking out loud in the storm,

What happens when the markets realize what keeps us awake at night - that this could seriously limit our ability to grow a normal crop?

Given the lack of fertilizer applied last fall throughout North America and the just in time (or later) systems we've been forced to deal with, it could seriously limit production.

Suppose that's already sneaking into our prices?

By the way, most of corns' issues the last two days are thanks to Goldman Sachs. They advised shorting corn as a hedge against this getting out of control. Suggesting it was the most likely damaged due to feed and ethanol use reductions.

Lots of calls going out from retailers to get everything on farm ASAP including herbicide.
Might be knee jerk reaction, but things are escalating quickly

[Braveheart]

Local wheat basis strengthening. A good time to lock in basis nearby and start new crop.

[AlbertaFarmer5]

Local wheat basis strengthening. A good time to lock in basis nearby and start new crop.

I was expecting it to go the opposite way. I thought speculation in the grain markets due to current events might drive nearby contract prices higher, but logistics and demand would make basis weaken.